I thought we sent terrorist to Guantanamo?
Posted on 09/24/2008 8:13:45 PM PDT by Fred
WASHINGTON -- Democratic leaders in Congress are considering imposing tough new restrictions on a proposed $700 billion financial-market bailout that could break the pool of money into installments. The move was prompted by worries among leaders of both parties, who are scrambling to ascertain whether they have enough support in Congress to push the rescue through.
The discussions reflect the increasingly tense environment in Capitol Hill as the parties grapple with the many unknown implications of their deliberations.
In a televised address, President George W. Bush called for a summit meeting on the financial crisis to be held Thursday to include congressional leaders as well as the two major-party presidential candidates. Illinois Democratic Sen. Barack Obama agreed. Earlier in the day, Sen. John McCain, the Arizona Republican, had already said he would "suspend" his campaign and return to Washington to take part in the bailout negotiations.
The action capped a helter-skelter day in which myriad voices injected themselves into the debate, ranging from the presidential campaigns to investor Warren Buffett.
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke testified once again before skeptical members of Congress -- both Democrats and Republicans -- following a similar hearing Tuesday in the Senate. Adding to the pressure on lawmakers to do a deal, Mr. Buffett said he wouldn't have considered investing in Goldman Sachs Groups Inc., a move he announced Tuesday night, if he didn't think the bailout would be approved. "I really do think Congress will do the right thing, when it's terribly important, and they will do it fast," he said. "They will haggle but they have the national interest at heart."
The basic building blocks of the bailout plan remain intact: Democratic leaders are still proposing to authorize Treasury to borrow up to $700 billion to buy hard-to-sell
(Excerpt) Read more at online.wsj.com ...
I am enjoying watching Wall Street squirm...fixed....
I thought we sent terrorist to Guantanamo?
bttt
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